INCOME TAX OFFICER, WARD- 2(2), JAMMU V. DR. RAM VISHWAKARMA , JAMMU

ITA 362/ASR/2017

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 5711 (ITAT-AMRITSAR)
• Duration Of Justice: 9 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-03-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 20-03-2018
• Assessment Year: 2008-2009
• Appeal Filed On: 05-06-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJEEV GUBGOTRA LD
• Assessee Lawyers: ASHISH JOTSHI
• Keywords: Unexplained investment
• Section: 69; 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR BEFORE SH. SANJAY ARORA, ACCOUNTANT MEMBER AND SH. N.K.CHOUDHRY, JUDICIAL MEMBER ITA NO.362(ASR)/2017 ASSESSMENT YEAR:2008-09 INCOME TAX OFFICER WARD-2(2), JAMMU VS. DR. RAM VISHWAKARMA DIRECTOR BUNGLOW, IIM COMPLEX, CANAL ROAD, JAMMU PAN:ABGPV 6323E (APPELLANT) (RESPONDENT) APPELLANT BY: SH. RAJEEV GUBGOTRA (LD. DR) RESPONDENT BY: SH. ASHISH JOTSHI DATE OF HEARING: 20.03.2018 DATE OF PRONOUNCEMENT: 22.03.2018 ORDER PER N.K.CHOUDHRY, JM: THE INSTANT APPEAL HAS BEEN PREFERRED BY THE REVENUE DEPARTMENT, ON FEELING AGGRIEVED AGAINST THE ORDER DATED 24.02.2017 PASSED BY THE LD. CIT(A), J&K, JAMMU, U/S 2 50(6) OF THE I.T. ACT, 1961 (HEREINAFTER CALLED AS THE ACT ) FOR ASST. YEAR:2008-09 BY RAISING THE SOLITARY GROUND OF APPEAL WHICH IS REPRODUCED HEREIN BELOW. WHETHER THE LD. CIT(A) WAS RIGHT IN LAW AND FACT I N ALLOWING THE APPEAL OF THE ASSESSEE BY MERELY STATING THAT THE A SSESSEE HAS DISCHARGED HIS ONUS TO EXPLAIN THE SOURCE OF INVEST MENT OFRS.50,82,800/- IN THE PURCHASE OF FLAT DESPITE TH E FACT THAT THE ASSESSEE HAS NOT SUBMITTED ANY EVIDENCE IN THIS REG ARD DURING THE ASSESSMENT PROCEEDINGS. ITA NO.362/ASR/2017 (A.Y.2008-09) ITO VS. DR. RAM VI SHWAKARMA, JAMMU 2 2. THE BRIEF FACTS OF THE CASE ARE THAT IN THE INSTANT CASE THE ASSESSMENT ORDER WAS PASSED WHILE MAKING ADDITION OF RS.50,82,800/- BY TREATING AS UNEXPLAINED INVESTMENT U /S 69 OF THE I.T. ACT. THE SAID AMOUNT ALLEGED TO BE UTILIZED BY THE ASSESSEE ON THE PURCHASE A FLAT AT MUMBAI FROM M/S MANTRY REAL ESTATE PVT. LTD. DURING THE YEAR UNDER CONSIDERATION I .E., F.Y.2007-08 RELEVANT TO THE ASST. YEAR: 2008-09. 3. ON FEELING AGGRIEVED AGAINST THE ASSESSMENT ORDER, THE ASSESSEE PREFERRED THE FIRST APPEAL BEFORE THE LD. CIT(A ), WHO WHILE CONSIDERING THE EXPLANATION OF THE ASSESSEE OBSERVED THAT THE ASSESSEE HAS DISCHARGED HIS ONUS TO EXPLAIN THE SOURCE OF INVESTMENT OF RS.50,82,800/- AND DELETED THE SAID ADDI TION MADE BY THE AO. 4. THE REVENUE DEPARTMENT FURTHER CARRIED THE MATTER B EFORE THIS FORUM AND IN SUPPORT OF ITS CASE, THE LD. DR SIM PLY RELIED UPON THE ASSESSMENT ORDER. 5. WE HAVE GONE THROUGH WITH THE FACTS AND CIRCUMSTANCES OF THE CASE, RELEVANT ORDERS AND SPECIFIC REMAND REPORT SUBMI TTED BY THE AO. IN THE REMAND REPORT, IT WAS CONCLUDED BY T HE AO THAT THE SOURCE OF INVESTMENT IN THE PURCHASE OF THE SAI D FLAT WAS EXPLAINED EXCEPT RS.1,20,380/- FOR WHICH NO EVIDENCE WA S GIVEN BY THE ASSESSEE. WHILE RELYING UPON THE REMAND REPORT A S WELL AS THE EXPLANATION OFFERED BY THE ASSESSEE, THE LD. CIT(A) GRANTED RELIEF BY DELETING THE ADDITION. THEREFORE, WE ARE OF THE CONSIDERED OPINION THAT IT IS ADMITTED CASE THAT OUT OF RS.50,82,800/-, THE A.O CONFIRMED THE SOURCE OF INVESTME NT TO ITA NO.362/ASR/2017 (A.Y.2008-09) ITO VS. DR. RAM VI SHWAKARMA, JAMMU 3 THE TUNE OF RS.49,62,420/- AS GENUINE AND ONLY DOUBTE D THE SOURCE OF INVESTMENT TO THE TUNE OF RS.1,20,380/- WHICH IS NEGLIGIBLE AMOUNT, WHICH WAS FURTHER FOUND TO BE EXP LAINED BY THE LD. CIT(A) IN ITS ORDER, THEREFORE, WE ARE OF TH E CONSIDERED VIEW THAT THE ORDER UNDER CHALLENGE DOES NOT SUFFER FR OM ANY PERVERSITY, ILLEGALITY AND IMPROPRIETY, HENCE, DOES NO T REQUIRE ANY INTERFERENCE. 6. IN THE RESULT, THE APPEAL FILED BY THE REVENUE DEPA RTMENT STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 22.03.2018. SD/- SD/- (SANJAY ARORA) (N.K.CHOUDHRY) ACCOUNTANT MEMBER J UDICIAL MEMBER DATED:22.03.2018 /PK/ PS. COPY OF THE ORDER FORWARDED TO: (1) DR. RAM VISHWAKARMA, JAMMU (2) THE ITO, WARD-2, JAMMU (3) THE CIT(A), J&K, JAMMU (4) THE CIT CONCERNED (5) THE SR DR, I.T.A.T., AMRITSAR TRUE COPY BY ORDER